2016 Summary Annual Report Dedicated. Committed. Invested. DEAR SHAREHOLDERS, CUSTOMERS AND EMPLOYEES: I’m pleased to long-term growth of the communities that we provide you with call home, was best reflected in the personal and our first Annual financial enrichment programs offered through Report as a public HarborOne U and our 10 year, $1,000,000 company, as we commitment to providing college scholarships celebrate our 100th for high school seniors heading to college or birthday. We are trade school. an organization dedicated to the This year, we’ll launch the HarborOne needs of the customers and communities that Foundation, whose mission is to strengthen and we serve. I would personally like to thank the empower individuals and families by investing in hundreds of individuals who have worked with us highly effective non-profit organizations that are over the years and who were, and are, dedicated creating positive and lasting change. Areas that to our mission of service. While the people, the Foundation will focus on include education corporate structure, and even our name has that fuels future success, safe and affordable changed, the commitment that we make to our housing, and basic human services. We’re excited customers and communities remains as strong and proud to have the opportunity to expand our as it has ever been. support of our local community organizations in a meaningful way. As you’ll see in the following pages, the financial performance of the bank in 2016 was strong. 2016 was a year that we all are very proud of, and Our deposit growth and talented sales team we are well-positioned to take advantage of new fueled our ability to deliver superior results in our challenges and opportunities awaiting in 2017. Commercial and Residential Lending businesses; Our momentum is strong, our vision clear. We our residential lending subsidiary, Merrimack look forward to continuing the execution of our Mortgage LLC, had a particularly strong year. strategic plan and working everyday to be the Consumer Lending goals were achieved, and we very best bank that we can be. made significant progress in the development of our Small Business Banking solutions. Additionally, we launched new mobile banking capabilities to meet the needs of today’s on-the- go lifestyle, while also providing new tools for customers to keep their accounts secure. Our commitment to education, so important to the James W. Blake, President & CEO of HarborOne Bancorp, Inc. COMMUNITY INVOLVEMENT Our banner year didn’t stop with financial results. HarborOne’s 100-year commitment to our community reached new heights. It was remarkable by any measure. Established the HarborOne Foundation Gave over $525,000 to local nonprofit • Working collaboratively to create and civic organizations, including: opportunities, provide access, and promote • Greater Plymouth County United Way innovative solutions to meet the complex needs of our community Pledged $1 million dollars to our OneCommunity Scholarship fund • Donating $100,000 for each of the next 10 years to 20 high school seniors HarborOne U financial education outreach programs • Credit for Life Fairs impacted over 3,500 area youth • Old Colony Habitat for Humanity • Hebron Food Pantry • Boys & Girls Club of Brockton Our Caring Crew Donated over 3,000 volunteer hours. Highlights included: • 75 Officers of the bank joined in Officers Day of Service at Old Colony YMCAs Camp Yomechas • Harvest for Hunger Campaign – We collected over 5,500 food items and donated more than $15,000 Board of Directors Joseph F. Barry James W. Blake Gordon Jezard Edward F. Kent Barry R. Koretz HarborOne Bank Leadership Team James W. Blake, CEO Joseph F. Casey, President and COO Patricia Williams, SVP Human Resources Leo Donahue, SVP Retail Christopher Gibbons, SVP Consumer Lending Wallace H. Peckham, III H. Scott Sanborn, SVP Commercial Lending David P. Frenette, Esq. Mark Langone, SVP Chief Enterprise Risk Officer Dr. Timothy R. Lynch David Reilly, SVP Operations Michael J. Sullivan David Tryder, SVP Chief Marketing Officer Joseph F. Casey* William Payne* Peter Makowiecki, SVP Residential Lending Wayne F. Dunn, SVP Chief Technology Officer Corporators Thomas Andrade Shaynah Barnes Chris Baynes Jason Bourne Jane Callahan James Harrington Beverly Pavasaris Greg Hart Dr. James Heller Kim Hollon Paula Peterson Neal Siskind, Esq. Kristen Stadelmann Richard Lawton, Esq. Richard Straczynski Thomas Carroll, Jr. Vincent Marturano David Thomas Fred Clark Stephen Donahue Emanuel Gomes Michael Goodman Wayne Matthews, Esq. Peter Vlaco John McCluskey, Esq. Mary Waldron David Offutt Brent Warren, Esq. Andrea Papadopoulos, Ph.D. BANCORP PERFORMANCE HIGHLIGHTS Steady growth continued in many key areas. Net Income* 2014 $2,570 2015 2016 $5,768 $5,931 Mortgage Originations* 2014 $242,142 2015 $897,239 2016 $1,902,519 *elected March 2017 Total Deposits* 2014 2015 2016 $1,500,115 $1,691,212 Net Interest Margin (FTE Basis) 2014 2.39% 2015 2016 2.61% 2.85% Commercial and Commercial Real Estate Loans* 2014 $189,905 2015 $335,954 2016 $596,302 HONE Stock Performance 7 4 1 1 5 1 5 1 1 8 1 1 3 2 1 9 0 1 3 3 1 3 0 1 5 1 1 7 0 1 5 0 1 6 0 1 0 0 1 0 0 1 HarborOne Bancorp Russell 2000 *in thousands The selected financial data of the Company set forth in this report does not purport to be complete and should be read in conjunction with, and is qualified in its entirety by, the more detailed information appearing in the company’s Form 10-K. Index ValuePeriod Ending7/01/167/31/168/31/169/30/1610/31/1611/30/1612/31/16 ABOUT US We’ve been sharing success with our community for over a century. That will never get old. HarborOne Bancorp, Inc. is the holding company New Hampshire that maintains 34 offices in for HarborOne Bank, the largest state-chartered Massachusetts, New Hampshire and Maine and co-operative bank in New England with $2.4 is also licensed to lend in seven additional states. billion in assets. The Bank, established in 1917 as HarborOne is a recognized leader in education, a state-chartered credit union, converted to a providing a range of educational services through state-chartered co-operative bank on July 1, 2013. “HarborOne U” with classes on small business, The Bank provides a variety of financial services to financial literacy, and personal enrichment at individuals and businesses online and through its campuses adjacent to our Brockton and Mansfield fourteen full-service branches located in Abington, locations and made a 10-year, $1,000,000 Attleboro, Bridgewater, Brockton, Canton, Easton, commitment to supporting secondary education Mansfield, Middleboro, Plymouth, Randolph for high school seniors through the OneCommunity and Raynham, Massachusetts, and two limited- Scholarship Program. The Bank has been named service bank offices in Brockton and Attleboro, to Top Places to Work - The Boston Globe for eight Massachusetts, a commercial lending office in consecutive years and in 2016 earned American Providence, Rhode Island, and a residential loan Banker’s Community Achievement Award for its office in Westford, Massachusetts. Acquired in work through HarborOne U, as well as Banker & 2015 and operated as a wholly owned subsidiary, Trademan’s Gold award for excellence in Merrimack Mortgage Company, LLC is a residential Commercial and Residential Lending. mortgage company headquartered in Manchester, OF 2016 OF 2016 COMMERCIAL Lending Residential Lending American Banker 2016 Community Impact Award Follow us NMLS #459218 HarborOne Bank | 770 Oak Street, Brockton, MA 02301 | 800-244-7592 or 508-895-1000